Nwam LLC Invests $250,000 in Tri-Continental Co. (NYSE:TY)

Nwam LLC acquired a new position in shares of Tri-Continental Co. (NYSE:TY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,106 shares of the investment management company’s stock, valued at approximately $250,000.

Other large investors have also modified their holdings of the company. BNP Paribas Arbitrage SA acquired a new stake in Tri-Continental during the 1st quarter worth approximately $25,000. Wolverine Asset Management LLC increased its position in Tri-Continental by 343.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 2,219 shares of the investment management company’s stock worth $61,000 after purchasing an additional 1,719 shares in the last quarter. Spire Wealth Management increased its position in Tri-Continental by 56.9% during the 1st quarter. Spire Wealth Management now owns 2,589 shares of the investment management company’s stock worth $69,000 after purchasing an additional 939 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Tri-Continental by 18.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,411 shares of the investment management company’s stock worth $87,000 after purchasing an additional 531 shares in the last quarter. Finally, Lowe Wealth Advisors LLC acquired a new stake in Tri-Continental during the 2nd quarter worth approximately $113,000. 9.75% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Price Performance

TY opened at $27.35 on Friday. The firm has a 50 day moving average price of $26.58 and a 200 day moving average price of $26.96. Tri-Continental Co. has a 1 year low of $25.16 and a 1 year high of $28.55.

Tri-Continental Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Monday, December 11th will be given a dividend of $0.377 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from Tri-Continental’s previous quarterly dividend of $0.26.

Tri-Continental Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.